Investors Purchase High Volume of Call Options on Iovance Biotherapeutics (NASDAQ:IOVA)

Iovance Biotherapeutics, Inc. (NASDAQ:IOVA) was the recipient of unusually large options trading activity on Thursday. Traders bought 21,357 call options on the stock. This is an increase of 75% compared to the average volume of 12,229 call options.

Iovance Biotherapeutics Stock Up 2.3%

Shares of NASDAQ IOVA opened at $10.25 on Friday. Iovance Biotherapeutics has a 52 week low of $1.76 and a 52 week high of $10.98. The firm’s fifty day moving average is $6.88 and its 200 day moving average is $4.94. The company has a market cap of $4.64 billion, a price-to-earnings ratio of -14.04 and a beta of 0.83.

Iovance Biotherapeutics (NASDAQ:IOVA) last posted its quarterly earnings results on Thursday, August 6th. The biotechnology company reported ($0.11) EPS for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.02. The company had revenue of $99.31 million during the quarter, compared to analyst estimates of $87.83 million. Iovance Biotherapeutics had a negative net margin of 89.11% and a negative return on equity of 40.51%. The firm’s revenue was up 65.7% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.33) EPS. Equities research analysts anticipate that Iovance Biotherapeutics will post -0.49 earnings per share for the current year.

Analysts Set New Price Targets

IOVA has been the topic of several recent research reports. Mizuho increased their target price on shares of Iovance Biotherapeutics from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Tuesday, August 18th. Barclays boosted their price target on shares of Iovance Biotherapeutics from $13.00 to $15.00 and gave the stock an “overweight” rating in a research note on Thursday. Citigroup reaffirmed an “outperform” rating on shares of Iovance Biotherapeutics in a research note on Friday, August 7th. Robert W. Baird set a $6.00 price objective on Iovance Biotherapeutics in a report on Friday, August 7th. Finally, Citizens Jmp boosted their target price on Iovance Biotherapeutics from $5.00 to $8.00 and gave the company a “market outperform” rating in a research note on Friday, August 7th. Seven research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $9.11.

Hedge Funds Weigh In On Iovance Biotherapeutics

Several hedge funds and other institutional investors have recently modified their holdings of IOVA. Sequoia Financial Advisors LLC increased its holdings in Iovance Biotherapeutics by 5.4% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 32,957 shares of the biotechnology company’s stock valued at $137,000 after purchasing an additional 1,691 shares during the period. Tidal Investments LLC lifted its holdings in Iovance Biotherapeutics by 52.1% in the 2nd quarter. Tidal Investments LLC now owns 280,048 shares of the biotechnology company’s stock worth $1,165,000 after buying an additional 95,933 shares during the period. Engineers Gate Manager LP lifted its holdings in Iovance Biotherapeutics by 76.5% in the 2nd quarter. Engineers Gate Manager LP now owns 190,035 shares of the biotechnology company’s stock worth $791,000 after buying an additional 82,338 shares during the period. Integrated Wealth Concepts LLC bought a new stake in shares of Iovance Biotherapeutics in the 2nd quarter worth approximately $55,000. Finally, Baird Financial Group Inc. grew its position in shares of Iovance Biotherapeutics by 12.0% in the 2nd quarter. Baird Financial Group Inc. now owns 222,340 shares of the biotechnology company’s stock worth $925,000 after buying an additional 23,800 shares during the last quarter. 77.03% of the stock is owned by institutional investors.

Iovance Biotherapeutics Company Profile

Iovance Biotherapeutics, Inc is a biotechnology company focused on developing and commercializing individualized cell therapies for patients with cancer. Its platform uses tumor-infiltrating lymphocytes (TILs), immune cells collected from a patient’s tumor, expanded in a manufacturing facility and returned to the patient to help recognize and attack cancer cells.

The company’s lead product, Amtagvi (lifileucel), is an autologous TIL therapy approved by the U.S. Food and Drug Administration for certain adults with unresectable or metastatic melanoma that has progressed following prior treatment.